Senator Darren Soto (D-Orlando) today sent the following letter to Gov. Rick Scott, urging him to veto SB 1666 – the accelerated foreclosure bill. The Senator cites, among other concerns, the legislation failing to leave enough time for mediation, and other settlement options. That’s especially troubling, he writes because Florida is not only first in the nation for foreclosures, it’s second nationally for the number of complaints filed with the Office of Mortgage Settlement Oversight by consumers regarding the national mortgage settlement. “Given the roots of the foreclosure crisis, the banks’ and others rolls in not only perpetuating the fraud but designing the terms of the national settlement, and the skyrocketing complaints coming in from homeowners desperately trying to protect their homes, the last thing Florida needs is a green light to target homeowners already under siege. Legislation protecting the fraudsters to the detriment of Florida’s homeowners is not a bill anyone should be endorsing,” Senator Soto wrote.

May 7, 2013

The Honorable Rick Scott
Governor
State of Florida
Office of the Governor
The Capitol
400 South Monroe Street
Tallahassee, FL 32399

Dear Governor Scott:

I am writing this letter to strongly urge you to veto SB 1666, the disturbing legislation speeding up the foreclosure process in Florida.

It is no secret that I have been an opponent of this anti-homeowner bill since its inception. This legislation would mark the biggest reduction in homeowner/homestead property rights in generations. In a state that ranks first in the nation for foreclosures, not only does the bill allow homeowners to be evicted more quickly, but if the eviction was through bank fraud, there is no ability to recover the home.

The legislation also fails to leave enough time for mediation, modifications, short sales or other settlement options, which is especially troubling given the reports arising from the Office of Mortgage Settlement Oversight – the federal authority tasked with overseeing that the terms of the multi-state national settlement with banks accused of illegal mortgage practices are followed.

Here are the numbers: From mid-April 2012 through the end of January 2013, consumers have filed more than 5500 complaints with the mortgage servicers that are part of the national agreement, with approximately 10 percent of those complaints generated by Floridians. In fact, our state, with 580 complaints ranks second to California, which leads the nation with 1312. The four largest trouble spots collected by the oversight agency were: Loan Modification, Customer Service, Documentation, and Fees – all major factors which would be compounded by this legislation accelerating the ability of banks to seize homes more quickly.

Given the roots of the foreclosure crisis, the banks’ and others rolls in not only perpetuating the fraud but designing the terms of the national settlement, and the skyrocketing complaints coming in from homeowners desperately trying to protect their homes, the last thing Florida needs is a green light to target homeowners already under siege. Legislation protecting the fraudsters to the detriment of Florida’s homeowners is not a bill anyone should be endorsing.

I urge you to do the right thing and veto this bill. Homeowners have been fighting an uphill battle to save their homes from unscrupulous predators for far too long. It’s time someone leveled the playing field.

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